We are full of confidence in the prospects of China's economic development
Since the beginning of this year, China's economic recovery rate has been in a leading position among major global economies, and the long-term positive fundamentals have not changed. According to the latest economic data released by the National Bureau of Statistics of China, China's gross domestic product (GDP) grew by 5.5% year-on-year in the first half of this year, significantly faster than the economic growth rate of 3% for the whole year last year and 4.5% for the first quarter. The United Nations Conference on Trade and Development recently announced that China's foreign direct investment in 2022 will increase by 5%, reaching a record high of $189.1 billion. The head of a multinational enterprise interviewed by our reporter stated that against the backdrop of multiple challenges facing the world economy, China's economic development has shown tremendous development resilience and potential. Foreign enterprises continue to invest in China and cast a vote of confidence in its economic development prospects through practical actions.
"Optimistic about China's economic development potential and long-term positive fundamentals"
In the first half of this year, China's national economy continued to recover and operate steadily, with significant results in industrial upgrading. New steps were taken in reform and opening up, and high-quality development was solidly promoted. The huge market size, complete industrial system, abundant talent resources, and continuously optimized business environment provide more opportunities for the development of foreign-funded enterprises in China. Many multinational companies are accelerating their investment and production expansion projects in China.
Henkel Group is a German chemical and consumer goods manufacturer. In May of this year, the Han Gao China Consumer Products Research and Development Center officially started construction in the Wangu Science and Technology Park in Yangpu District, Shanghai. In the future, this comprehensive innovation and research center will not only better serve the Chinese market, but also provide technical support for the Asia Pacific region and even the world. In June, Han Gao broke ground and started construction on its new adhesive technology factory, Kunpeng Factory, in Yantai, Shandong Province, China. The investment in the new factory is about 870 million yuan, which will enhance Han Gao's high-end adhesive production capacity in China and better meet the growing demand of domestic and foreign markets.
According to Rong Jie, Vice President of Henkel Group, Henkel has been deeply involved in the Chinese market for over 50 years. "China has actively promoted high-quality and sustainable economic development, providing opportunities for Henkel's technological progress and product upgrading. We are optimistic about the potential for China's economic development and long-term positive fundamentals."
Bekaert, which focuses on metal deformation and coating technology, is one of the earliest Belgian companies to invest in China, with a cumulative investment of 1.4 billion euros so far. At the beginning of this year, the Bekaert AC fine curtain project with a total investment of 30 million US dollars was signed and settled in Jiangyin City, Jiangsu Province.
"The continuous improvement of the business environment in China has attracted Bekaert to continue to invest and expand production in China." Yu Daming, president of Bekaert Group in China, said, "Today, our business landscape in Chinese Mainland has covered nine cities, and we have established 18 related companies, including manufacturing bases, engineering technology centers, Asian research and development centers, and the Asian regional headquarters in Shanghai. We are full of expectations for China's policies and measures to further attract foreign investment."
"China has become one of the world's major aviation markets and is expected to become a leading aircraft manufacturing country. As a long-term partner of major Chinese airlines, Thales has provided onboard entertainment systems for nearly half of its wide body aircraft and avionics solutions for the vast majority of its fleet." Wei Tianrui, the head of Thales Group in France, said that China has continued to promote a series of policy measures such as high-level opening up to the outside world, attracting and utilizing foreign investment with greater efforts, and continuously optimizing the business environment, injecting confidence into Thales' further cultivation of the Chinese market. "In the future, we will further contribute our corporate strength to China's high-quality development in areas such as aerospace, digital identity and cybersecurity, and scientific research."
"Multinational enterprises in China are facing better opportunities for development"
Continuously enhancing the leading role of innovation, strengthening the position of enterprises as the main body of scientific and technological innovation, promoting the aggregation of innovative elements to enterprises, and continuously improving the level of scientific and technological achievement transformation and industrialization... A series of measures to promote high-quality development have made more and more foreign-funded enterprises optimistic about the long-term development prospects of the Chinese economy.
In May of this year, BMW's sixth generation power battery project began construction in Shenyang, with a total investment of 10 billion yuan and a planned area of 240000 square meters. The second phase expansion project of Shenyang R&D Center has been officially put into use, strengthening the full process development and verification capabilities of localization of new energy vehicles. The facility has 19 new laboratories, of which 17 are dedicated to testing new energy vehicles. At present, BMW is strategically upgrading its R&D system in China, and the needs of Chinese customers will be integrated into BMW's future R&D strategy more quickly.
"Since 2010, BMW's Shenyang production base has accumulated nearly 100 billion yuan of investment. The Shenyang production base has become the largest production base of BMW Group in the world." Gao Le, president and CEO of BMW Group Greater China, told reporters, "The Chinese market is also a pioneer market for innovation. At present, BMW Group has established the largest R&D and digital system outside Germany in China. The Chinese government is actively promoting Chinese path to modernization and high-quality development. BMW Group is very optimistic about the development prospects of the Chinese market. We will always focus on long-term development in China."
Beijing ABB Low Voltage Electrical Company is one of the global manufacturing and research and development bases of ABB Group in Switzerland, with the latest technological achievements in the fields of smart buildings and digitalization. In May of this year, the company's automated intelligent flexible production line for miniature circuit breakers was officially put into use in the Beijing Economic and Technological Development Zone.
"China is an innovative country and one of the most dynamic markets in the world. As ABB Group's second largest market in the world, China's promotion of high-quality economic development provides a rare opportunity for ABB to continue investing in China and optimize its business layout." Zhao Yongzhan, the person in charge of ABB Electric, said that the group invested more than 2 billion yuan to build ABB Xiamen Industrial Center, acquired and increased its stake in Shanghai Lianzhu, established an electric transportation China headquarters in Shenzhen, and built or upgraded production lines in Xiamen, Xinhui, and other places. "We are full of confidence in the prospects of China's economic development, and ABB will continue to actively promote the localization of the entire value chain."
Elevator company Otis has been developing in China for nearly 40 years. In early June of this year, with the approval of the Shanghai Municipal Commission of Commerce, Otis's research and development center located in Shanghai was recognized as a new batch of global research and development centers for multinational corporations. Otis China President Luo Xiaoli stated that Otis Shanghai R&D Center is the largest innovation center of Otis globally, with hundreds of professional engineers responsible for elevator, escalator, component and system research and development in China and the global market. Many innovative achievements have been promoted and applied in the global market. "The Chinese government is steadily promoting major strategies such as the strategy of strengthening the country through talent and innovation driven development, which provides better opportunities for multinational enterprises' development in China. The recognition of Otis' Global R&D Center is also a confirmation of our continued investment in scientific research and talent cultivation in the Chinese market."
"China's economic development injects momentum into the world's economic recovery"
In Jinan High tech Zone, Shandong Province, SKF from Sweden has built the world's largest commercial vehicle bearing production base. The second phase of the investment expansion production base project was recently officially put into operation. At the same time, the company's commercial vehicle research and development center will also settle here.
"China has always been our focus market," said David Johnson, Global President of SKF Automotive Business Unit. "On the one hand, we see China actively building a sustainable future, which aligns with our concept of sustainable development. On the other hand, China leads the forefront in innovation, which makes us determined to deeply cultivate and invest in China."
"China is an open and dynamic market with strong economic growth potential," said Mohammad Al Agilan, Vice Chairman of Saudi Arabia's Agilan Brothers Holding Group. Against the backdrop of weak global economic recovery, as the world's second largest economy, the Chinese economy has maintained a good growth momentum. "The development of the Chinese economy injects momentum into the world's economic recovery. We believe that driven by strong consumption and the rebound in demand in the service industry, the long-term positive growth trend of the Chinese economy will continue."
In Zhao Yongzhan's view, the fundamentals of China's long-term economic growth have not changed. China actively promotes high-quality development, green and low-carbon development, and continues to expand opening up, laying the foundation for a bright development prospect for the Chinese economy. "High quality development will bring more market opportunities to fields such as new energy and digital transformation, provide driving force for China's economic growth, and thus provide more impetus for global economic development. As a foreign-funded enterprise that has been in China for many years, ABB is confident in following the pace of China's economic growth and further cultivating the Chinese market. We also believe that the long-term positive Chinese economy will continue to be an important engine for boosting the global economy."
"As the world's second-largest economy, China has made significant contributions to the recovery of the world economy," said Zuo Weihao, CEO of Ansheng Tianping Property Insurance Co., Ltd. By tapping into domestic demand potential, expanding openness, and promoting technological innovation, China injects new vitality into the world's economic recovery through its own development. "China has enormous market potential, which provides vast market opportunities and commercial cooperation space for countries around the world. China's deepening reform and promoting high-quality development have brought opportunities for the continuous opening up of financial markets to the outside world. We will continue to deeply cultivate the Chinese market and contribute to the world's economic recovery and sustainable development."
